Exclusive: Majid Jafar, CEO, Crescent Petroleum

The Arab world’s economic revolution is only just beginning, says Jafar, in an exclusive interview with Gulf Business.

Dana Gas Offers Bondholders Sweetened Debt Deal

The Sharjah-based natural gas producer failed to repay its creditors on the maturity of its $920 million Islamic bond last month.

UK Hopes Mideast Nuclear Talks Can Be Held In 2013

A conference on banning nuclear weapons in the Middle East was to take place in December, but has now been delayed.

Dana Gas Agrees To Develop UAE Gas Field

Production in the new field is expected to begin in the first half of 2014.

Abu Dhabi Signs Oil Storage Deal With Korea

The deal provides for the storage of six million oil barrels for the Korean strategic stockpile program.

Bahrain’s Bapco Secures 2013 Deals At $3 Per Barrel

Gasoil contracts secured at a high premium for Q1 next year. Price is labelled ‘crazy’ by traders.

How Green Is Your Building?

The prize for increasing your building’s efficiency could be vast, say energy-saving experts.

Oil Service Titans Gaining Power Vs Big Oil

Big Oilfield service companies are rapidly gaining importance over major oil giants.

UAE’s TAQA In Q3 Loss On Higher Costs

Abu Dhabi National Energy Company blames loss on construction costs and lower gas prices.

UAE’s Crescent Petroleum To Enter Libya, Lebanon

The company is also looking to expand investment and production in Iraq, its CEO says.

US To Overtake Saudi As Top Oil Producer – IEA

Forecasts suggest the States will achieve self-sufficiency in oil and gas and become an exporter by 2030.

ADIPEC Round Up – BP, ADNOC And Saudi Announcements

A round up of the day’s news and gossip from the region’s largest oil and gas event.

OPEC Acknowledges Shale Oil Supply Is Significant

In its World Oil Outlook report, OPEC cuts its forecast of global oil demand to 2016 due to economic weakness.

Oil Down 4% As Fiscal Cliff Looms After US Vote

President Obama winning a second term in office has seen oil price drop after previous 3 per cent gains when Romney was favourite.

Qatar Petroleum Shifts GIS Stake To State Pension Fund

QP had owned 30 per cent of the company having previously spun off 70 per cent in 2008.

Dana Gas Says In Standstill Talks With Creditors

Sharjah-based Dana did not repay a five-year convertible Sukuk on maturity last week.

Yemen LNG Pipeline To Be Repaired In A Week

The 320-km gas pipeline was damaged during an attack last week.

UAE’s Dana Gas Misses $1bn Sukuk Deadline

The natural gas firm becomes the country’s first company to fail to repay a bond, also missing a $18.75 million accrued profit payment.

UAE’s Dana Gas Will Not Repay $920m Sukuk On Maturity

The Sharjah-based gas firm has reached a standstill agreement with bondholders, say sources.

Abu Dhabi’s TAQA Seeks New Terms For Dutch Gas Transport Tariffs

TAQA has a 60 per cent stake in Netherlands’ 4.1 billion cubic metre Bergermeer storage facility.

Brent Slips Near $109 As Hurricane Sandy Approaches US

Six East Coast oil refineries representing 1.19 million barrels per day could potentially be hit by the deadly storm.

TAQA Hires Banks For $2bn Loan Refinancing

The financing will include a three-year and a five-year revolving credit facility.

UAE’s Oil Pipeline Fully Open By Year End

The onshore pipeline will carry the majority of Abu Dhabi’s oil exports from storage fields in Fujairah.

Abu Dhabi-Led Group Submits Lowest Bid For Saudi Power Plant

A consortium led by TAQA made the lowest bid for the Rabigh 2 project in the Kingdom.

Saudi Aramco Chooses Builders Of Jizan Refinery

The Saudi oil producer has awarded contracts to companies from across Europe and Asia – the project is said to be worth billions of dollars.

Top 15 Tips To Save Energy

Gulf Business outlines some of the best ways to build a more energy efficient environment at the work place.

ADNOC To Offer Cleaner Diesel Fuel For 2013 Term Contract

The move would make ADNOC the first Middle Eastern producer to export ultra-low sulphur diesel outside the region.

Kuwait Sets Oil Well On Fire After Gas Leak

No one was injured in the gas leak accident, said state news agency KUNA.

Saudi Aramco To Spend $35bn On Oil Supply Cushion To 2017

Saudi Aramco has been pumping around 10 million barrels per day for most of this year.

Saudi To Supply Crude To Asian Buyers

The Kingdom increased the selling prices for November to Asian buyers in line with widening product cracks.